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When Eric Yu was attending college five years ago, he joined Starbucks as a part-time barista and qualified for healthcare coverage and other benefits. “As a college student, the healthcare benefits were very important to me. Now that I’m a full-time assistant manager, the healthcare coverage and other benefits are still important to me.” C S R 2 0 0 3 P A R T N E R S 8 In rating overall satisfaction, 82% of our partners stated that they were satisfied or very satisfied with Starbucks. More important was the overall rating for partner engagement, which was measured at 73%, placing Starbucks among the best employers in the world based on engagement studies conducted by an independent consultant of 1,459 companies in 17 countries. The 2003 Partner View Survey confirmed that Starbucks Mission Statement and Guiding Principles have a positive impact on partner engagement. We also heard how important health benefits were to our store partners in their decision to join Starbucks. Although soaring U.S. health care costs have challenged Starbucks and other companies, we are committed to designing health plans that ensure our partners have continued access to affordable health care. P A R T N E R B E N E F I T S The story has been told many times, but it’s worth repeating. When Howard Schultz became head of Starbucks, he vowed to leave no one behind. The commitment stemmed from his childhood experiences as the son of a blue-collar worker. An injury kept his father out of work, and without company-provided health coverage, the family suffered tough times. This instilled a vision at Starbucks to “treat people like family and they will be loyal and give their all.” The importance of treating people like family has never worn off. Today, Starbucks has one of the most competitive benefits and compensation packages in the retail industry. Here are a few examples of our Total Pay programs: • In 1987, Starbucks became one of the first retail companies to offer our part-time partners who work at least 240 hours per calendar quarter the same comprehensive health benefits that our full-time partners receive. This includes medical, prescription drug, dental, vision and alternative healthcare coverage. • Starbucks pays approximately 75% of the costs of healthcare coverage for U.S. partners. • Starbucks pays 60% of the healthcare coverage cost for our U.S. partners’ dependents, including their same-sex and opposite-sex domestic companions. • Bean Stock, Starbucks stock option plan, is offered to all eligible part-time and full-time partners in the U.S., Canada, the UK, Hong Kong and, for the first time with the fiscal 2003 grant, partners in the Netherlands. • S.I.P. (Stock Investment Plan) allows all eligible part-time and full-time partners in the U.S. and Canada to purchase company stock at discounted prices. A similar plan – Starbucks Corporation Share Save Plan – is available to eligible partners in the UK. • Starbucks 401(k) plan, Future Roast, is a savings program open to all eligible U.S. partners. Contributions made by partners are matched by Starbucks, and immediately vested. Based on length of service, Starbucks matches partner contributions – from 25% to 150% on the first 4% of pay contributed. Canadian partners receive a 25% match on their contributions to the Registered Retirement Savings Plan (RRSP), which is similar to the 401(k).
B R I N G I N G O U T T H E B E S T I N O U R P A R T N E R S First, Starbucks attracts and hires great people. Next, our new partners are immersed in Starbucks culture, based on three fundamentals – our Mission Statement and Guiding Principles; our passion for coffee; and our commitment to provide legendary customer service. Then throughout their journey as a Starbucks partner, they are offered all kinds of development opportunities to help them achieve job success. The Learning Journey for Retail Partners Our baristas and their fellow store partners are the face of Starbucks, engaging with our valued customers every day. Our goal is to teach our store partners how to become passionate experts in the preparation and delivery of our core product. So on their first day as Starbucks baristas, and throughout their nine-part orientation, our new store partners are paired with learning coaches who guide them through the process of becoming “Certified Starbucks Baristas.” Training for our baristas doesn’t end there. Their education continues as new products are introduced and company initiatives are launched. When store partners move into management roles, additional training is provided so they become strong leaders. 9 One of our baristas, Angie Martin (left), gets trained by Amanda Cebull, store manager, on how to deliver the perfect Starbucks Experience. P A R T N E R S C S R 2 0 0 3
Page 1 and 2: L I V I N G O U R VA L U E S Corpor
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L O C A L A C T I O N Starbucks sup
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T A Z O A N D M E R C Y C O R P S T
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Tea and Paper Sourcing ��
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Store Design and Operations ��
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PAINTS WITH LOWER AMOUNTS OF VOLATI
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G O I N G F O R W A R D Starbucks w
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Recognize that profi tability is es
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Company Profile ��
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E X P E C T A T I O N S O F O U R S
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G O I N G F O R W A R D As a public
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A B O U T T H I S R E P O R T Starb
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© 2004 Starbucks Coffee Company. A
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